muses of the moment

February 29, 2012

Groovygirl Warning

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 2:24 pm

Just a little reminder to stop day-trading gold and silver.

Groovygirl has told you.

Jim Sinclair has told you.

Now, Jesse warns you. Click here.

Use dips to buy physical gold and silver to hold long-term. Do not trade, do not sell.

Today’s $60 range will turn into $300plus when things heat up. Physical gold and silver is insurance against stupid government policies and the absence of the rule of law, it is not for profit and greed.

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3 Comments »

  1. GG,

    Actually you can day trade it because the powers that be are sooooo flippin predictable. Silver made a 4% gain yesterday. You KNEW that JP and Goldman were going to pound it down again especially after you read the stories of those shorting silver possibly getting stuck in their positions. Same with Gold.

    The markets are highly manipulated. You can day trade PMs based upon the 5-6 banks that rule the world and see what their positions are in them. No way they are going to get caught holding the bag. They’ll let PMs float every now and then but if it’s going to hurt them then they will manipulate the market to THEIR benefit. Trade against that premise but to your point … be careful and risk only what you can afford to lose.

    Thought of the day: “Think like the banks … you will make a profit … Logic and sound economic principles are NOT in play these days.”

    Comment by MikePHila — February 29, 2012 @ 3:06 pm

  2. mike phila

    your bashing a knat with a sludge hammer

    and the advice that you can understand the banks and trade with them is horse pucky

    Comment by chop — February 29, 2012 @ 5:39 pm

  3. Buffett says gold does not belong in portfolio

    http://www.marketwatch.com/story/buffett-rebuffs-gold-but-inflation-says-buy-2012-02-29?link=MW_story_popular

    If the Oracle says so, it must be true. Unless he’s just doing his part to drive the price down for the massive short interest that mounted over the last week?

    Rgds

    Comment by Lore — February 29, 2012 @ 6:06 pm


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